Card Factory plc, £181m share placing, UK

27 March 2015

To find out more, Contact STJ Advisors

STJ Advisors acted as independent advisor to Charterhouse on its third and final successful sell-down in Card Factory plc, UK’s London-listed and leading specialist retailer of greeting cards, raising c. £181m. The sale, representing Charterhouse’s remaining shareholding in Card Factory and c. 18% of the Company, was completed as a combination of a private placement to two Tier 1 UK long-only institutions followed by an accelerated bookbuild to a small group of UK institutions, both at 300p, or a c. 3% premium to previous close. This completes a successful range of follow-on transactions (many completed as private placements) enabling Charterhouse to sell-down all of its shareholding in Card Factory within 10 months of the IPO. All transactions were completed at premium prices to the market and without lock-up commitments. This ensured maximum flexibility and allowed Charterhouse to capture the full fundamental value of the shares. STJ had successfully advised Charterhouse on its £297m IPO of Card Factory in May 2014 as well as both its previous share disposals in December 2014 and January 2015.

Back to Transactions

Expert advice to the most sophisticated issuers